Attractive Opportunities in the Shoulder Fired Weapons Market, 2016-2022

"Demand for new generation anti-tank and lightweight guided weapons are the key factors driving the shoulder fired weapons market"
The report provides an analysis of the shoulder fired weapons market over the next six years. It discusses industry and technology trends that are prevailing in the market, and analyses the factors that are driving and restraining the growth of this market as well as the challenges faced by it.

https://www.marketsandmarkets.com/Market-Reports/shoulder-fired-weapons-market-130342841.html

The shoulder fired weapons market is projected to grow from USD 5.83 billion in 2016 to USD 7.70 billion by 2022, at a CAGR of 4.76% from 2016 to 2022. The growing demand for highly maneuverable weapon systems is expected to be the key driver for the growth of the shoulder fired weapons market during the forecast period.

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Based on component, the ammunition segment dominated the market. Furthermore, the launcher segment is projected to grow at the highest CAGR during the forecast period. This can be attributed to use of shoulder fired weapons, which have launchers mounted with equipment such as electro-optical devices and guiding equipment, among other devices. These launchers can fire small rockets as well as missiles of various ranges. The growing demand for procurement and development of technologically advanced launcher systems serve as the key driver for growth of the shoulder fired weapons market.

Based on technology, the guided segment is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the increasing demand for guided shoulder fired weapons by militaries, which are used to destroy targets with less collateral damage.

The shoulder fired weapons market has also been segmented and analyzed on the basis of range. Based on range, the short range segment is projected to grow at the highest CAGR during the forecast period following the rising demand for RPG (Rocket Propelled Grenade), which is highly flexible and can engage the target in a short period of time. Short range shoulder fired weapons are less complicated and have relatively low cost as compared to medium range shoulder fired weapons.

The shoulder fired weapons market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period followed by the Middle East and North America. There is an increase in demand for shoulder fired weapons by militaries in the Asia-Pacific region due to increasing terrorists attack in several part of the country and continuous technology advancement programs.

Mr. Sanjay Gupta
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MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

This release was published on openPR.